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The Aleo Network Foundation has partnered with Paxos Labs to launch USAD, a U.S. dollar stablecoin that integrates privacy-preserving technology with enterprise-grade infrastructure.  Announced on October 1, the collaboration introduces the first stablecoin issued on a layer-1 blockchain that combines smart contract functionality with zero-knowledge cryptography. Aleo’s zero-knowledge cryptography meets Paxos Labs’ issuance framework USAD is designed to keep transaction details, such as participant identities and amounts, confidential, addressing a long-standing barrier to institutional adoption of blockchain-based finance. The stablecoin is issued through Paxos Labs’ regulatory framework and backed by institutional-grade assets, while Aleo provides the underlying zero-knowledge infrastructure. “Privacy is the missing link in blockchain adoption at scale, and with USAD, we are proving it can exist in a programmable stablecoin,” said Leena Im, Chief Operating O...

The KRW1 stablecoin launch marks a pretty significant milestone for South Korea’s digital asset sector right now, with Seoul-based BDACS introducing what is the first fully operational won-pegged stablecoin on the Avalanche blockchain. This particular won-backed stablecoin Features real-time proof of reserves, which addresses some transparency concerns while the country is preparing comprehensive stablecoin regulations for October. KRW1 Stablecoin Launch: Avalanche, Won-Backed Collateral & Proof-Of-Reserves KRW1 stablecoin Avalanche launch announcement – Source: BDACS BDACS announced the KRW1 stablecoin launch on September 17, and this came after they conducted a successful proof-of-concept with Woori Bank. Each KRW1 token actually maintains 1:1 collateralization with Korean won that they hold in escrow, along with real-time proof of reserves providing continuous verification through API integration. BDACS selected the Avalanche blockchain for its security capabilities and ...

The stablecoin supply on the Ethereum blockchain has reached a new all-time high (ATH) after Tether and Circle went on a minting spree. According to an X post by Token Terminal, the supply of stablecoins on Ethereum has surpassed $160 billion.  “The supply has more than doubled from January ‘24 levels,” Token Terminal said in its post.  Ethereum’s surging stablecoin supply cements its dominance over the stablecoin market. With the recently passed GENIUS Act legitimizing the sector, the surge of newly minted tokens, which is fuel for trading, lending, and DeFi activity, could support increased demand for ETH and potential outperformance against the broader crypto market. Tether And Circle Mint Billion Of Dollars The stablecoin supply peak on Ethereum comes as Tether and Circle, the issuers of leading stablecoins USDT and USDC, minted billions of dollars worth of their tokens in the last couple of days. On-chain analytics platform Lookonchain said ...

PayPal’s stablecoin killer PayPal World launched a new international fiat system that is linking almost two billion users to a non-blockchain payments bridge. The PayPal fiat platform directly targets stablecoin adoption risks by offering cross-border payments through traditional rails, positioning itself as a digital dollar alternative. PayPal Newsroom press release announcement – Source: PayPal Can PayPal’s Fiat Platform Disrupt Stablecoins and Digital Dollars? Source: PayPal PayPal’s July 23, 2025 announcement of PayPal World poses a threat to cryptocurrency markets. The PayPal stablecoin killer connects domestic wallets like UPI, WeChat Pay, and Mercado Pago to PayPal’s merchant network, eliminating cryptocurrency transaction fees and stablecoin adoption risks. Alex Chriss, President and CEO of PayPal, is convinced about the fact that: “The challenge of moving money across borders is incredibly complex, and yet this platform will make it so simple...

Russia has unveiled plans to launch two State-linked cryptocurrency exchanges to integrate digital payments for trade settlements. The US sanctions have made Russia find alternative payment methods to keep its economy afloat. The two cryptocurrency exchanges will operate in two different cities, one in Moscow and the other in St. Petersburg. In addition, BRICS member Russia also plans to launch a new stablecoin that will be linked with the Chinese yuan. Also Read: BRICS: New Gold-Backed Currency Gains Steam & Challenges the US Dollar JUST IN: Russia to launch two crypto exchanges and stablecoins linked to the Yuan and BRICS currency, Kommersant reports. — Watcher.Guru (@WatcherGuru) August 23, 2024 The bold plan from BRICS member Russia is to peg the Chinese yuan with the new cryptocurrency-based stablecoin at a 1:1 ratio. This makes its price remain stable with no volatility and is relatively safe to initiate transactions with no concerns of fluctuating prices. Also Read: BRICS:...

The creator of the biggest stablecoin in the world, Tether, said that it will work with Phoenix Group, an Abu Dhabi-listed cryptocurrency conglomerate, to launch a stablecoin correlated with United Arab Emirates dirham (AED). JUST IN: Tether to launch a stablecoin pegged to the UAE currency. — Watcher.Guru (@WatcherGuru) August 21, 2024 The unnamed stablecoin will be added to Tether’s current stablecoin roster, which already includes coins based on the Euro (EURT), US Dollar (USDT), Chinese Yuan (CHNT), and Mexican Peso (MXNT). Also Read: Can Binance Coin (BNB) Hit $700 In September 2024? Key Highlights of the New Stablecoin Boosting Digital Representation of AED It should be noted that the latest collaboration could boost the digital representation of AED. The stablecoin will be backed entirely by “liquid UAE-based reserves.” Tether stated that its Dirham-pegged stablecoin will provide a safe and practical means of utilizing AED in the digital realm. It also caters t...

Basel Committee proposes maturity limits for stablecoin reserve assets. Overcollateralization required for longer-term assets to ensure stability. Credit quality criteria defined for reserve assets to bolster stablecoin stability. In a move to enhance the st ability of Stablecoin s, the Basel Committee on Banking Supervision, part of the Bank for International Settlements (BIS), has recommended targeted adjustments to its standards on banks’ exposure to crypto asset s. The proposed measures, outlined in a consultative document released on Dec. 14, 2023, focus on refining prudential standards for stablecoin exposure, building on the committee’s initial standards published in December 2022. Addressing redemption risks with maturity limits The committee’s first proposal centres on mitigating redemption risks during periods of extreme stress, where stablecoin issuers might face mass withdrawal claims, leading to fire sales. To address this, t...

French lender Societe Generale is set to become the first bank to offer a stablecoin on a cryptocurrency exchange. According to a report from the Financial Times (FT), the Paris-headquartered bank will debut its stablecoin EUR CoinVertible on crypto exchange Bitstamp on Wednesday, Dec. 6, 2023. Speaking with the FT, Jean-Marc Stenger, CEO of Societe Generale Forge, said the crypto ecosystem has become “highly concentrated on a few existing stablecoin s,” emphasizing that up to 90% denominated in U.S. dollars. “[…] we definitely think that there is a place for a bank in this field and there is a place for a euro [denominated] stablecoin .” Jean-Marc Stenger Stenger added that the bank wants for its stablecoin to be widely available for trades settlement in digital bonds and funds, which is contrary to what JPMorgan is offering with its JPM Coin. You might also like: Circle partners with SBI Holdings to offer potential stablecoins in Japan ...

Over the past few days, a host of major developments with respect to stablecoin s have taken place. PayPal recently launched a U.S. dollar-backed stablecoin to help foster payments. The new asset, called PayPal USD [PYUSD], has been designed to address the “emerging potential” to transform payments in Web3 and digitally native environments. Parallelly, The Fed also issued an explanation a few hours ago revealing that the banks under supervision ought to get pre-approvals for engaging with stablecoin s. Over the past day, stablecoin s worth over $35.3 billion were transacted. The aggregate worth of the stablecoin market stood at $125.582 billion at press time. Owing to the gradual adoption, Berinstein expected the market to be worth almost $3 trillion in 5 years. Source: CoinMarketCap Also Read: U.S. Credit Card Debt Surpasses $1 Trillion Regulated, On-Shore Stablecoins Will Lead Growth: Bernstein Gautam Chhugani’s analyst team noted that the integration with consum...

While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year. Paxos Trust Company — the New York-based Stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is report edly being investigated by the New York Department of Financial Services (NYDFS). A “person familiar with the matter” told Bloomberg in a Feb. 10 report that the exact motive behind the probe is currently unclear. An NYDFS spokesperson declined to comment on ongoing investigations but noted that the department is broadly working to protect consumers from risks associated with investing in the cryptocurrency market: “The department is in continuous contact with regulated entities to understand vulnerabilities and risks to consumers and the institutions themselves from crypto market volatility we are experiencing.” Paxos has issued BUSD — a U.S. Dollar-collateralized stablecoin — since the firm...